WhiteFiber, Inc. (WYFI) experienced a significant intraday plummet of 12.06% on Thursday, as the market reacted negatively to the company's first-quarter 2026 financial results.

The sharp decline followed the release of earnings that showed a substantial deterioration in profitability. WhiteFiber reported a quarterly loss of $0.31 per share, which missed the analyst consensus estimate of $0.28. More critically, the company swung to a net loss of $12.04 million from a net income of $1.4 million in the same quarter last year, despite a 30.75% year-over-year revenue increase to $21.92 million.

Investor concern appears focused on the widening operating loss, which expanded to $11.02 million as operating expenses climbed significantly. Key profitability metrics also declined, with adjusted EBITDA falling to $3.0 million from $5.99 million a year earlier. The deterioration in bottom-line performance, coupled with a significant jump in accounts receivable and decline in cash position, raised concerns about the company's financial health despite top-line growth.